Elon Musk Denies Reports Of Bitcoin ATM At Nevada Gigafactory

KEY POINTS

  • Tesla CEO said reports of a Bitcoin ATM inside one of its facilities are inaccurate
  • LibertyX reportedly added Bitcoin selling feature to three ATMs at the facility
  • They can be accessed only by Tesla employees

Tesla CEO Elon Musk has denied recent reports that there is a Bitcoin ATM inside the car company’s Gigafactory in Nevada.

“I don’t think this is accurate,” Musk tweeted Monday, while replying to a tweet by news website Teslarati. The Teslarati tweet has since been deleted.

On Sunday, Will Reeves, the CEO of cryptocurrency payments and rewards app Fold, tweeted about spotting a LibertyX “bitcoin ATM at the Gigafactory,” along with a Google Maps image. LibertyX is a manufacturer of cryptocurrency ATMs in the United States. 

News outlet Finbold, on Sunday, reported that the LibertyX Bitcoin ATM, mentioned in the tweet, was in existence at the Gigafactory since August and it

Read More
Read More

U.S. Department Of Justice Reveals Growing Bitcoin And Crypto National Security Threat Could Herald ‘Oncoming Storm’

Bitcoin and cryptocurrency use by terrorists, rogue nations and other criminals has grown in recent years—with high-profile attacks drawing international attention.

The illicit use of bitcoin and cryptocurrency ranges from money laundering and tax evasion to extortion, with cyber criminals increasingly demanding bitcoin and crypto payments in ransomware attacks on computer systems.

Now, the U.S. Department of Justice (DOJ) has warned the emergence of bitcoin and similar cryptocurrencies is a growing threat to U.S. national security, with the attorney general William Barr’s Cyber-Digital Task Force calling it the “first raindrops of an oncoming storm.”

MORE FROM FORBESNeither Trump Nor Biden Will Help The U.S. Dollar, Warns Early Facebook Exec-Calls Bitcoin An ‘Insurance Policy’

“Current terrorist use of cryptocurrency may represent the first raindrops of

Read More
Read More

Billionaire ‘Bond King’ Jeff Gundlach says stocks will crash, predicts a weaker dollar, and questions bitcoin in a new interview. Here are the 10 best quotes.



Jeffrey Gundlach wearing a suit and tie: 2011 Jeffrey Gundlach co-founder and Chief Executive Officer and Chief Investment Officer of DoubleLine speaks at the 16th annual Sohn Investment Conference in New York May 25, 2011. REUTERS/Jessica Rinaldi


© REUTERS/Jessica Rinaldi
2011 Jeffrey Gundlach co-founder and Chief Executive Officer and Chief Investment Officer of DoubleLine speaks at the 16th annual Sohn Investment Conference in New York May 25, 2011. REUTERS/Jessica Rinaldi

  • Jeff Gundlach, the billionaire investor known as the “Bond King,” predicted in a RealVision interview published on Friday that stocks would crash in less than 18 months.
  • The DoubleLine Capital CEO also said the US dollar would dive in the long run, argued that tech stocks like Apple and Amazon were the only US equities worth owning, and questioned bitcoin, welfare, and Chipotle’s valuation.
  • Here are Gundlach’s 10 best quotes from the discussion.
  • Visit Business Insider’s homepage for more stories.

In a RealVision interview filmed on October 1 and released on Friday, the billionaire “Bond King” Jeff Gundlach said stocks would crash within 18 months, predicted that the US dollar would tumble in the long run, and

Read More
Read More

Will Bitcoin Make A Good Investment? Institutional Adoption (Cryptocurrency:BTC-USD)

Bitcoin buyers fall into two camps (primarily). Those who trade the cryptocurrency and those who “stack Satoshis,” a term for stockpiling on Bitcoin as a means of building long-term wealth. Stacking Satoshis may be the most successful tactic due to a few key iterations that Bitcoin will go through to ultimately strengthen its price and reputation as a solid investment choice. Many Bitcoin experts expect Bitcoin to be at the height of its development in 2025.

There are key reasons as to why Bitcoin will make a solid long-term asset over the next five years and may reach its peak as a new technology with mass adoption in seven to ten years. This series explores why strategically entering the bitcoin market at a good entry price will make a solid investment for the future.

Bitcoin Investment Cycle: Institutions

Bitcoin’s investment cycle is important to understand as the cryptocurrency has the

Read More
Read More

Market Wrap: Bitcoin Surges on Square News to $10.9K; December Ether Options Pile Up

CoinDesk 20 Bitcoin Price Index

Bitcoin is flashing green as Square converts some of its cash to crypto while ether options traders are making lots of bets for December expiration.

  • Bitcoin (BTC) trading around $10,890 as of 20:00 UTC (4 p.m. ET). Gaining 2.1% over the previous 24 hours.
  • Bitcoin’s 24-hour range: $10,532-$10,962
  • BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.

Bitcoin’s price popped Thursday, led higher almost immediately following the announcement that payments firm Square had invested $50 million to purchase 4,709 BTC. The development pushed the price per 1 BTC to as high as $10,962 before settling to $10,890 as of press time. 

Read More: Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment

Related: The Market Reacts to Square’s $50M Bitcoin Buy

“News that Jack Dorsey’s Square has purchased about $50 million worth of bitcoin is a definite positive that appears to have

Read More
Read More

Square backs cryptocurrency, buys $50 million in bitcoin

Over the years, billionaire entrepreneur Jack Dorsey has cultivated a reputation as one of the more unconventional leaders in business, with his daily ice baths, weekend fasts, and devotion to Stoic philosophy.

Now his company Square is following in his footsteps with an unconventional investment. The Silicon Valley-based payments platform is buying 4,709 bitcoins—worth $50 million, or roughly 1% of Square’s total assets.

“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,” the company said in a statement Thursday.

Although unusual, the investment isn’t hugely surprising, as it was likely driven by Square founder and CEO Dorsey—who’s been a vocal advocate for cryptocurrency. In 2018, he told attendees at Consensus, an annual conference for cryptocurrency and blockchain enthusiasts, “The internet is going to have a native currency. So let’s

Read More
Read More

Square buys $50 million in bitcoin as part of larger investment in cryptocurrency

Payments platform Square has purchased $50 million in bitcoin, part of its larger investment in cryptocurrency, the company announced on Thursday. Square bought a total of 4,709 bitcoins, which the company says represents about 1 percent of its total assets as of the end of the second quarter.

Square said it was making the purchase because it believes “bitcoin has the potential to be a more ubiquitous currency in the future,” calling cryptocurrency “an instrument of economic empowerment” that “provides a way for the world to participate in a global monetary system.” Square has accepted bitcoin as a form of payment since 2014.

Jack Dorsey, CEO of Twitter and Square, has long been a proponent of bitcoin, saying in 2018 that he believes it will eventually become the world’s single currency within the next decade. Dorsey, who also owns an undisclosed amount of bitcoin personally, said during an earnings call

Read More
Read More

Goldman Sachs Warned It Will Soon Be Scrambling To ‘Catch Up’ On Bitcoin

Goldman Sachs
GS
, along with other Wall Street giants, has been eyeing bitcoin and cryptocurrency markets this year—and has already taken some big steps into the space.

Those steps follow the bitcoin price, up some 40% so far this year and hovering at a little over $10,000 per bitcoin, finding support through a roller coaster 2020 as a potential hedge against a wave of inflation that some see on the horizon.

Now, after it was announced last month a 20-year Goldman Sachs veteran will be joining merchant bank Galaxy Digital in early 2021, the firm’s founder and chief executive, Michael Novogratz, has warned Goldman will soon be scrambling to catch up with its head start in bitcoin and crypto.

MORE FROM FORBES‘High Risk’ Warning: A Major Bitcoin Exchange Is In Even Worse Trouble Than Thought

Read More
Read More

Crypto For Congress Puts “American-Made” Bitcoin Into The Hands Of Policymakers

This week, the Chamber of Digital Commerce PAC sent all 535 members of the United States Congress about 0.0047 BTC ($50 worth at the time), in an effort to educate the country’s legislators around cryptocurrency and blockchain technology that it calls Crypto For Congress.

Leveraging Federal Election Commission rules that allow for cryptocurrency-based campaign contributions and its own Political Action Committee to make the BTC donations, the Chamber of Digital Commerce ultimately hopes to motivate these lawmakers to embrace the advantages presented by blockchain technology.

“Our industry faces a number of regulatory challenges and it’s important for our government officials to have a working knowledge of how this technology works,” Perianne Boring, founder and president of the Chamber of Digital Commerce, told Bitcoin Magazine. “If you look at tax laws, securities laws, if you look at compliance obligations, there are a lot of examples of regulators and policymakers who

Read More
Read More

Analysts Can’t Agree on What Prompted Big Spike in New Bitcoin Addresses

Bitcoin has seen a rapid rise in the creation of addresses on the blockchain so far this month, with one industry executive saying it’s likely due to traders moving funds off the legally troubled BitMEX exchange. Others point elsewhere.

  • The “entities net growth” metric from analytics firm Glassnode, which measures the daily change in unique entities or clusters of addresses controlled by a single participant, rose sharply by 244% from 9,750 to 33,620 in the first six days of October.
  • Tuesday’s tally of 33,620 was the highest since Oct. 3, 2018.
  • The surge in new entities noticeably picked up the pace in the wake of U.S. authorities’ recent decision to bring civil and criminal charges against cryptocurrency derivatives trading platform BitMEX and users’ resulting panicked migration of funds to other exchanges.
  • BitMEX has witnessed an outflow of at least 40,000 BTC (worth around $424 million at press time) since the
Read More
Read More